Credentialer/Medical malpractice insurance collaboration

Abstract

An inventive process is disclosed for linking credentialing information with a medical malpractice insurance application. The credentialing information is automatically transferred from the credentialing questionnaire to an insurance application, and this credentialing information is then used to generate a medical malpractice insurance policy. The medical malpractice insurance policy is a two year policy, in order to coincide with the required re-credentialing of the healthcare provider. The inventive process also includes linking an information database, not created for insurance purposes, with an insurance application.

Description

BACKGROUND OF THE INVENTION1. Field of InventionThis invention pertains to the art of processes for linking an information database with an insurance application, and more particularly to the process of linking credentialing information with a medical malpractice insurance application.2. Description of the Related ArtIt is well known that regulatory agencies in the United States require health professionals to have their credentials verified every two years. Verification is a time consuming process that typically includes the assembly of various documents, including proof of the physician's license, a valid Drug Enforcement Agency certificate, proof of completion of medical school, proof of board certification, proof of appropriate work history, etc. Thus, the verification process often takes many days and sometimes weeks to complete. Unfortunately, this time consuming process is the only known way that the regulatory agencies can ensure the public that it is receiving care from a q...

AI Technical Summary

Benefits of technology

In accordance with another aspect of the present invention, at least one medical malpractice insurance premium quote can be generated without the physician having to fill out an application.

One advantage of the present invention is that the physician will not have to fill out a separate application form for medical malpractice insurance.

Another advantage of the present invention is that the medical malpractice insurance policy is of a duration that corresponds to the recredentialing process, thus eliminating the long term need for physicians to recomplete insurance applications or insurance renewal applications.

Yet another advantage of the current invention is that the entire process can be automated, thereby, creating a quick and efficient process.

Still another advantage of the current invention is that the process increases competition among malpractice insurers by giving them easier access to potential insureds.

One more advantage of the current invention is that the process will drive down the healthcare provider's processing costs, thereby lowering costs of one of physicians' largest line item expenses, thereby lowering the costs of healthcare to consumers.

Problems solved by technology

Verification is a time consuming process that typically includes the assembly of various documents, including proof of the physician's license, a valid Drug Enforcement Agency certificate, proof of completion of medical school, proof of board certification, proof of appropriate work history, etc.

Thus, the verification process often takes many days and sometimes weeks to complete.

Unfortunately, this time consuming process is the only known way that the regulatory agencies can ensure the public that it is receiving care from a qualified medical professional.

However, there is currently in the art no known connection between the credentialing services, the credentialing information, and the insurance industry.

However, this credentialing information sharing is limited to the federal government and does not involve the insurance industry.